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Systemic Requirements for Monetary Stability in Eastern Europe and the Former Soviet Union

Rostowski, Jacek - 1994

The primary function of banks during economic transformation is seen to be provision of an efficient payments mechanism. The lack of banking skills, particularly in credit allocation, is seen as the major problem in stable monetary systems. This is a problem which can be expected to last many...

Persistent link: https://www.econbiz.de/10014396465

Stabilization Policy with Bands

Gros, Daniel - 1990

This paper discusses stabilization policy in the presence of bands for the exchange rate. The bands are modelled in a probabilistic sense: monetary policy has to be such as to keep the probability, that the exchange rate stays within the bands, above a certain threshold. In contrast to other...

Persistent link: https://www.econbiz.de/10014396477

The Instruments and Operating Procedures for Conducting Monetary Policy in the Group of Five Countries

International Monetary Fund - 1989

This paper examines and compares the instruments and procedures currently employed by the central banks of France, Germany, Japan, the United Kingdom, and the United States for implementing monetary policy in the short run. The analysis indicates that the monetary authorities of these five...

Persistent link: https://www.econbiz.de/10014396489

Varieties of Monetary Reforms

Siklos, Pierre L. - 1994

This paper surveys three types of monetary arrangements. It considers how the choice of an exchange rate regime, the degree of central bank independence, or choice of currency unions or boards depends not only on economic considerations but also on political economy considerations. In economic...

Persistent link: https://www.econbiz.de/10014396492

Central Bank Independence : Issues and Experience

International Monetary Fund - 1991

There has been growing interest recently in the scope for promoting monetary stability through the establishment of independent central banks. This paper reviews the issues involved in central bank independence against the background of arrangements in nine countries. The analysis suggests that...

Persistent link: https://www.econbiz.de/10014396496

The Fiscal Abuse of Central Banks

Fry, Maxwell J. - 1993

This paper reviews the fiscal activities that governments in a sample of 26 developing countries have obliged their central banks to undertake. In the main, these activities fall under five categories: (1) collecting seigniorage; (2) imposing financial restriction; (3) implementing selective...

Persistent link: https://www.econbiz.de/10014396498

Optimal Liquidity and Economic Stability

Han, Linghui - 2012

Monetary aggregates are now much less used as policy instruments as identifying the right measure has become difficult and interest rate transmission has worked well in an increasingly complex financial system. In this process, little attention was paid to the potential spillover of excess...

Persistent link: https://www.econbiz.de/10014396541

Monetary Policy Transmission in the GCC Countries

Prasad, Ananthakrishnan - 2012

to retail rates is on the low side, reflecting the shallowness of money markets and the manner in which GCC central banks … policy has a strong and statistically significant impact on broad money, non-oil activity, and inflation in the GCC region …. Unanticipated shocks to broad money also affect prices but do not stimulate growth. Continued efforts to develop the domestic …

Persistent link: https://www.econbiz.de/10014396562

Alternative Monetary Policy Rules for India

Kapur, Muneesh - 2012

This paper empirically evaluates the operational performance of the McCallum rule, the Taylor rule and hybrid rules in India over the period 1996-2011 using quarterly data, with a view to analytically informing the conduct of monetary policy. The results show that forward-looking formulations of...

Persistent link: https://www.econbiz.de/10014396578

Coordinating Public Debt and Monetary Management During Financial Reforms

Leite, Sérgio Pereira - 1992

The paper analyzes the interplay between public debt and monetary management during financial reforms, and provides suggestions on collaboration between the central bank and the treasury to achieve common objectives. It discusses monetary policy and public debt at the onset and through different...

Persistent link: https://www.econbiz.de/10014396618